Mumbai, Feb 1 - A benchmark index for Indian equities made up for most of its opening session losses Monday and was ruling about 22 points in the red about two hours after opening bell.

The 30-scrip sensitive index (Sensex) of the Bombay Stock Exchange (BSE), which opened at 16,339.32 points, was at 16,335.38 points, down 22.58 points or 0.13 percent from its previous close at 16,357.96 points.

It had slipped over 197 points soon after opening bell.

At 10.40 a. m., at the National Stock Exchange (NSE), the broader 50-share S&P CNX Nifty was at 4,885.85 points, against the previous close at 4,882.05 points, a gain of 0.08 percent.

Broader markets were however doing better, with the BSE midcap index up 1.33 percent and the BSE small cap index trading 2.34 percent higher.

Among gainers on the Sensex were M&M, up 2.12 percent at Rs. 1,041; Maruti Suzuki, up 1.86 percent at Rs. 1,416; Graism, up 1.69 percent at Rs. 2,638; and Tata Steel, up 1.82 percent at Rs. 579.35.

Top losers included Infosys 2.57 percent down at Rs. 2,413; HUL, down 2.54 percent at Rs. 237.90; HDFC Bank, down 1.28 percent at Rs. 1,610; and SBI, down 1.18 percent at Rs. 2,033.

Other major Asian markets too were in the red, with the benchmark Japanese index, Nikkei, trading 0.06 percent lower at 10,192.22 points, and the Hang Seng of the Hong Kong Stock Exchange 0.55 percent down at 20,012.1 points.

The Chinese Shanghai composite index too was in the negative terrain, at 2,926.35 points, 2.11 percent down.

However, the Korean Kospi was up 0.2 percent at 1,605.56 points. (IANS)